| Word | Type | Pronunciation | Definition |
| quote | noun | /kwoʊt/ | a detailed outline of what something would cost |
| I am still waiting for the quote from our supplier. | |||
| agreement | noun | /əˈɡrimənt/ | an arrangement made between people or organizations |
| We are close to coming to an agreement. | |||
| negotiate | verb | /nəˈɡoʊʃiˌeɪt/ | to reach an agreement by making compromises |
| I negotiated a 10% discount by purchasing a higher quantity. | |||
| mutual | adjective | /ˈmjutʃuəl/ | done in the same way by each member of a group |
| We have a mutual understanding about how to move forward. | |||
| estimate | verb | /ˈestɪˌmeɪt/ | calculating what you think something will cost |
| Please estimate how much time it will take to complete the project. | |||
| discount | noun | /ˈdɪsˌkaʊnt/ | a price reduction |
| Our supplier is willing to give us a 15% discount on our next order. | |||
| propose | verb | /prəˈpoʊz/ | to suggest a plan or idea |
| Can you propose an alternate solution? | |||
| deal | noun | /dil/ | a formal agreement |
| Do we have a deal? | |||
| counteroffer | noun | /ˈkaʊntərˌɔfər/ | an offer made in response to another offer you received |
| The estimate we received was too high, so I made a counteroffer. | |||
| compromise | verb | /ˈkɑmprəˌmaɪz/ | when both parties in a negotiation give up something in order to agree |
| It is important that we both compromise so we can reach an agreement. | |||
| contract | noun | /ˈkɑnˌtrækt/ | a written legal agreement outlining what each party must do/provide |
| Please return the signed contract by end of day tomorrow. | |||
| expiration | noun | /ˌekspɪˈreɪʃ(ə)n/ | when an agreement or offer is no longer valid |
| What is the expiration date on our contract? | |||
| approval | noun | /əˈpruv(ə)l/ | official agreement or permission |
| The proposal needs to have approval from the Senior VP before we can move forward. | |||
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